The UK's Petrofac has agreed to increase its stake in the Abu Dhabi-based Petrofac Emirates joint venture to 75% from 50% as the remaining state-owned holding is privatized, Petrofac said Thursday. Following both transactions, the ...
Tags: Petrofac Emirates, Chemicals
China's apparent oil demand in June surged 11.7% year on year to 40.89 million mt, or an average 9.99 million b/d, according to Platts' estimates Monday, based on the latest preliminary government data. This is the highest growth rate ...
Tags: Chemicals, oil, Metallurgy, Mineral, Energy
Reform in Mexico has been talked about for many years, but substantial change that would likely involve some degree of constitutional amendment seems finally at hand, a Mexican energy legal expert said Thursday. With production dwindling ...
OPEC's share of the global oil market is set to diminish further next year as surging supplies of oil from the US and other non-OPEC producers outpaces an expected acceleration in world oil demand growth, the International Energy Agency ...
Tags: Chemicals, Metallurgy, Mineral, Energy, Oil
US-based manufacturer of process automation systems Key Technology has unveiled a new standard Iso-Flo conveyor and hygienic options for all other Iso-Flo vibratory conveyors at the Pack Expo event in Las Vegas. According to the company, ...
Markus Tacke has been appointed CEO of Siemens Energy Sector's Wind Power Division. The 48-year-old Tacke (in photo) will take the helm August 1, 2013. He succeeds Felix Ferlemann who, at 53, is leaving the company by mutual agreement to ...
Tags: Siemen, Wind Power Division
The price spread between CFR Far East Asia polypropylene and feedstock propylene narrowed to flat, with both prices assessed at $1,425/mt on Friday, according to Platts data. PP prices shed $5/mt day on day to $1,425/mt CFR Far East Asia ...
The Sohar-based aromatic plant of Oman Refineries and Petrochemical Industries Company (Orpic) has attained record levels in benzene and paraxylene production, which has grown by 51 percent as compared to last three year’s average ...
Tags: Textile, Orpic Aromatic Plant
Negotiations for the July Asian Contract Price for paraxylene have drawn buyers to make a counterbid of $1,300/mt CFR on Wednesday, almost $200/mt lower than sellers' nominations, sources close to the negotiations said. There are four ACP ...
Tags: oil, Metallurgy, Mineral, Energy, Polyester
Saharan Blend's increased role as a blending crude for the slew of sourgrades headed to Europe has helped the naphtha-rich grade shrug offchronically low naphtha cracks, market sources said Friday. In turn, the Algerian crude has halted ...
Tags: Metallurgy, Mineral, Energy
OPEC's role in supplying global oil markets has not been diminished by the surge in oil production in the United States, though trade patterns willshift as a result of the shale boom in North America, the head of the International Energy ...
Consumers who buy the fuel-efficient new cars that will roll out to meet tough new fuel economy standards will save thousands of dollars over the life of the vehicles, according to a new report released today by Consumer Reports. Fuel ...
Reportedly, Saudi Basic Industries Corporation (SABIC), the Gulf Cooperation Council's largest steel producer, plans to develop two steel mills located at Saudi Arabia's Gulf coast area. The Jubail plant will design an annual processing ...
Tags: Metallurgy, Mineral, Energy
The US on Friday identified eight petrochemical companies it says are owned or controlled by the government of Iran and are therefore subject to sanctions. The US State Department also sanctioned two companies "for knowingly engaging in a ...
Tags: Metallurgy, Mineral, Energy, oil
The quality of Iraq's Basrah crude has stabilized at an API gravity level of 28-30 degrees after some fluctuation in recent months, the country's oil minister said Thursday. "Its quality is stable around 28-30 API. The only change we had ...
Tags: Basrah Crude, Chemicals